PETALING JAYA: Yinson
Production has announced that the 15-year firm charter for the Agogo floating production storage and offloading (FPSO) vessel has officially commenced, following the issuance of the Provisional Operational Readiness Certificate (PORC) on Aug 12.
The company, an independent owner and operator of FPSO vessels worldwide, said the Agogo FPSO had earlier achieved first oil on July 29, 2025 – four months ahead of the original schedule and 29 months after the contract award.
“The PORC marks the beginning of the FPSO’s 15-year firm lease and operate contract with client Azule Energy, Angola’s largest independent oil and gas producer and a 50/50 joint venture between British Petroleum and Italy’s Eni.
“The contract has a firm period of 15 years, with optional annual extensions of up to five years. The total contract value is in excess of US$5bil.”
Yinson Production said it had entered into the contract for the provision, operation, and maintenance of the Agogo FPSO with Azule Energy in February 2023.
“With a production capacity of 120,000 barrels of oil per day and a storage capacity of 1,600,000 barrels of oil, the Agogo FPSO is deployed to the Agogo Integrated West Hub Development Project located in the West Hub of Block 15/06 offshore Angola.
“Following completion of the construction, integration, mechanical completion and commissioning, the Agogo FPSO sailed away from Shanghai, China, in March 2025, arrived in Angola in May 2025 and completed mooring hook-up in June 2025.”
